Polish Plastics and cosmetics manufacturer PCC Rokita has acquired a 25 percent stake in the Bangkok chemical company IRPC Polyol Company Ltd., the company stated in a press release on Wednesday.
“The company acquires from IRPC Public Co. Ltd. in Bangkok 750,000 shares of IRPC Polyol…and will be entitled to 25 percent of the votes at the shareholders meeting…for the amount of PLN 9.7 million,” the release stated. It added that the final price would be determined more exactly, based on end-of-year financial statements and on IRPC board approval. Furthermore, the company indicated that within three years of completing this deal, it planned to purchase an additional 25 percent of IRPC’s shares. However, the statement added that the additional shares would be dependent on a number of factors, including full consent of IRPC at the time of sale.
RRC Rokita, listed on the main market of the WSE, is based in Poland’s Lower Silesia region and is one of the companies present in the Wałbrzych Special Economic Zone (nicknamed “Invest Park”). It’s parent company is the German chemical company, PCC SE.